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Economy 01/11/2014 Share of small businesses in GDP of Uzbekistan reached 52.9%
Share of small businesses in GDP of Uzbekistan reached 52.9%
Tashkent, Uzbekistan (UzDaily.com) -- Share of small businesses in GDP of Uzbekistan rose from 51.2% in nine months of 2013 to 52.9% in the same period of 2014 in the result of adopted measures on further improving business environment, the Ministry of Economy and State Statistics Committee of Uzbekistan said in their material.

Share of small businesses in industry rose up to 31.1% (27.9%), in investments – 33.2% (32.2%), in paid services – 47% (43.1%) and in employment – 76.5% (76%).

In the reporting period, small businesses acquired 224 state assets (including 151 objects on zero redemption price) for 60.5 billion soums. They also rented 23,000 unused state premises.

In nine months of 2014, the commercial banks provided loans and micro loans to small and private businesses for 7.3 trillion soums (including 1.5 trillion soums of microloans), which rose by 1.3 times year-on-year. The credit lines of international financial institutions, provided to small and private businesses, for US$129 million (1.2 times) were used in the reporting period.

The material said that 20,200 new small businesses (without farms and dehkan entities) were created in Uzbekistan in nine months of 2014.

Largest number of business entities was created in industry and construction (38.6% from total number). Total number of operating small enterprises rose by 3.5% year-on-year.

Small businesses realized their goods for 1.2 trillion soums in nine months of 2014 via exchange traded (+1.9 times) and purchased products for over 3 trillion soums (+1.7 times).

The volume of public procurement from small businesses made up 333.7 billion soums in nine months or 98.3% of total public procurement. The public procurement system helped to save 82.2 billion soums of resources of the state budget or 19.5% of allocated funds.

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